Tuesday, February 3, 2015

MoneyScience News

MoneyScience News


Google Brain’s Co-Inventor Tells Why He’s Building Chinese Neural Networks

Posted: 03 Feb 2015 02:29 AM PST

Google Brain's Co-inventor Tells Why He's Building Chinese Neural Networks http://t.co/KitA7CkhEB — moneyscience (@moneyscience) February 3, 2015

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Blog Post: TheFinancialServicesClub: The future ain't what it used ta be

Posted: 03 Feb 2015 12:48 AM PST

We were having a debate on twitter, me and a few of my fintech pals, when one of them posted a link to this blog.   The blog is on the World Economic Forum’s (WEF) website and written by Rishad Tobaccowala (great name!), and provides a view of 5 insights and 3 predictions from Davos.read more...

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Published / Preprint: Wall Street Occupations

Posted: 02 Feb 2015 11:25 PM PST

Many finance jobs entail the risk of large losses, and hard-to-monitor effort. We analyze the equilibrium consequences of these features in a model with optimal dynamic contracting. We show that finance jobs feature high compensation, up-or-out promotion and long work hours, and are more attractive than other jobs. Moral hazard problems are exacerbated in booms, even though pay increases....

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Blog Post: WealthandCapitalMarketsBlog: Fidelity Buys eMoney Advisor, But Is It Too Much to Chew?

Posted: 02 Feb 2015 07:06 PM PST

The wolves have been circling eMoney Advisor for some time now. But it is Fidelity Investments,  and not some pinstriped P/E firm, that has gobbled up the financial planning lamb. Should we be surprised?read more...

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Published / Preprint: Worldwide clustering of the corruption perception. (arXiv:1502.00104v1 [q-fin.EC])

Posted: 02 Feb 2015 05:47 PM PST

We inspect a possible clustering structure of the corruption perception among 134 countries. Using the average linkage clustering, we uncover a well-defined hierarchy in the relationships among countries. Four main clusters are identified and they suggest that countries worldwide can be quite well separated according to their perception of corruption. Moreover, we find a strong connection between...

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Published / Preprint: Power-law correlations in finance-related Google searches, and their cross-correlations with volatility and traded volume: Evidence from the Dow Jones Industrial components. (arXiv:1502.00225v1 [q-fin.ST])

Posted: 02 Feb 2015 05:47 PM PST

We study power-law correlations properties of the Google search queries for Dow Jones Industrial Average (DJIA) component stocks. Examining the daily data of the searched terms with a combination of the rescaled range and rescaled variance tests together with the detrended fluctuation analysis, we show that the searches are in fact power-law correlated with Hurst exponents between 0.8 and 1.1....

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Published / Preprint: Optimal Derivative Liquidation Timing Under Path-Dependent Risk Penalties. (arXiv:1502.00358v1 [q-fin.MF])

Posted: 02 Feb 2015 05:47 PM PST

This paper studies the risk-adjusted optimal timing to liquidate an option at the prevailing market price. In addition to maximizing the expected discounted return from option sale, we incorporate a path-dependent risk penalty based on shortfall or quadratic variation of the option price up to the liquidation time. We establish the conditions under which it is optimal to immediately liquidate or...

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Vendor News: February 2, 2015 - SS&C Technologies to Acquire Advent Software

Posted: 02 Feb 2015 01:56 PM PST

Blog Post: iMFdirect: Disinflation in EU Countries outside the Eurozone

Posted: 02 Feb 2015 07:31 AM PST

By Plamen Iossifov and Jiri Podpieraread more...

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Published / Preprint: 02Feb/Guidance on accounting for expected credit losses issued by the Basel Committee

Posted: 02 Feb 2015 05:26 AM PST

Press release about the Basel Committee issuing guidance on accounting for expected credit losses (2 February 2015).

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